Millions of Americans find themselves waking up to rapidly changing financial news that leaves them with more questions than answers. Crypto appears to be crashing, investment portfolios are in disarray, and inflation is putting a strain on pockets nationwide. The economic landscape of our nation and the world at large is shifting at an alarming rate and far too many Americans are ill-prepared to adjust to the times. As dire as many of our citizens’ financial straits may be, a lack of financial education only compounds and exacerbates an already troubling problem even more.

Read TIME’s Article “Financial Literacy Education Could Help Millions of Americans

Research shows that only about a third of Americans have a working understanding of interest rates, mortgage rates, and financial risk according to the Financial Industry Regulatory Authority. And this measure of financial literacy has fallen 19 percent over the past decade. 

The American public is in need of a massive culture shift in regard to financial education and it’s going to take all of us to steer the ship and correct course. The need is so great that we cannot afford to leave it squarely in the hands of the government and public sector to provide a solution. The private sector must get involved and many of them have through the Financial Literacy for All (FL4A) movement.

Financial Literacy for All is an inclusive, business-led movement aimed at helping more Americans reap the benefits that come from making more informed financial decisions. We have collectively made a 10-year commitment to reach millions of youth and working adults, providing them with the necessary tools and life experience to become more confident in making those critical economic choices.

My friend and FL4A co-chair, Walmart CEO Doug McMillon and I co-wrote an op-ed piece for TIME entitled “Financial Literacy Education Could Help Millions of Americans” in which we lay out the case for the private sector helping to push an internal national reform so to speak that embeds financial literacy into the fabric of our society.

To date, we have had 30 of some of the biggest names in business sign on the movement, signifying their affirmation and belief in our mission and their willingness to lend their talents and expertise in creatively reaching our lofty, yet obtainable goal. Some of these include the National Football League, The Walt Disney Company, Delta Air Lines, and several other leading financial institutions.

Recently, we announced investment services giant Edward Jones as the latest company to join the movement and we’re looking forward to many more commitments in the coming weeks and months.

It’s time to make financial literacy a foundational stepping stone to achieving the American Dream, and we need everyone to be involved.

To learn more about Financial Literacy for All or to join the movement, visit us at fl4a.org.

 

Pin It on Pinterest